Newman of W&M reps landlord 7,000 s/f lease expansion and extension at 500 Mamaroneck Ave.

Protravel International Inc. has assumed and extended Rich Worldwide Travel's lease 19 months ahead of expiration at W&M Properties' 500 Mamaroneck Ave., according to Jeffrey Newman, executive VP of W&M. The tenant is also relocating to a larger space within the property. Protravel recently purchased the assets of Rich Worldwide Travel, a 500 Mamaroneck Ave. tenant since 1992. Protravel took over Rich Worldwide Travel's lease and extended the term through 2016. In expanding its occupancy at 500 Mamaroneck, the travel agency is moving from the second floor to a 7,000 s/f unit of space on the fourth floor. Newman represented the landlord. Howard Greenberg of Howard Properties, Ltd. represented the tenant. "W&M is an excellent landlord," said Richard Esman, senior vice president of Rich Worldwide Travel, a division of Protravel International. "When we combined with Protravel, we had to decide whether to remain here or relocate to another building. Under our recommendation, the folks at Protravel came to see 500 Mamaroneck and we unanimously made the decision to grow our business and partnership here." 500 Mamaroneck Ave.is a five-story, 285,000 s/f, multi-tenanted trophy office building. The building, comprising dual "center core" pods, subdivides well for multiple users within each pod, with unit size availabilities as small as 1,100 s/f. In 2002, 500 Mamaroneck received The Office Building of the Year Award (TOBY) from the Building Owners and Managers Association of Westchester County. In 1999, 500 Mamaroneck Ave. received the "Westchester County Owner/Investor Acquisition of the Year Award" from the New York City/Westchester County/Fairfield County Chapter of the National Association of Industrial and Office Properties.